The Solana logo
Source: Solana Twitter

How High Can DeFi and the Metaverse Take Solana?

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Nov. 30 2021, Published 7:40 a.m. ET

An investment of $1,000 in Solana in April 2020, when it started trading, would be worth $300,000 now. Even those who invested in Solana at the beginning of 2021 have benefited, as the crypto has returned more than 13,000 percent since. Now at about $200, Solana has pulled back about 20 percent from its peak. Is it time to buy the dip? What’s Solana's price prediction for 2030?

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A programmable blockchain that supports smart contracts, Solana is one of Ethereum’s most prominent competitors. Others include Cardano, Avalanche, and Algorand. Some 500 projects working on DeFi, games, and NFT products have been built on Solana, and more are coming.

Mean DAO raises $3.5 million for its Solana DeFi project

Mean DAO recently raised $3.5 million from a group of investors that included SoftBank, Three Arrows Capital, and DeFiance Capital. The DAO (decentralized autonomous organization), which offers money streaming solutions to help with payment scheduling, intends to use the money to expand its operations on Solana. Zebec, another money streaming provider, has also raised $6 million to bring its solution to Solana.

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usd
Source: CoinMarketCap

Catena X and Crowny to launch on Solana

Solana offers fast and cheap transactions that developers can’t find on Ethereum, drawing many projects to the network. Cryptocurrency project Catena X has decided to launch its CEX token on Solana, as has Crowny, a blockchain-based customer loyalty program.

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In addition to providing developers with great tools, Solana is leveraging its pocket to attract projects to its network. For example, Solana has teamed up with crypto exchange FTX and venture capital company Lightspeed on a $100 million funding initiative for gaming projects.

Solana exceeds 1 million Twitter followers and 100,000 Reddit members

Solana’s growth is also evident in its rapidly expanding social community. The project has 1 million Twitter followers and 100,000 members on Reddit.

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Is Solana a good investment?

Solana, among the blockchain platforms where the metaverse is being built, is host to Star Atlas, one of the most prominent metaverse gaming projects. The metaverse presents an enormous economic opportunity across a diverse range of industries–Mark Zuckerberg has even rebranded from Facebook to Meta Platforms as the focus turns.

What’s Solana's price prediction for 2030?

Fast and low-cost transactions are Solana’s greatest strengths, and these should continue to attract more projects to the network. The shift to DeFi products and the metaverse has the potential to power Solana to $1,000 by 2030.

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